Venga, the self-proclaimed “all-in-one” cryptocurrency app that aims to help more people embrace the exciting world of Web3, has announced that Michael Stroev, former COO and Head of Product at Nebeus, has been appointed as its new CEO.
In his new role at Venga, Stroev will be responsible for leading the company’s efforts to accelerate Web3 adoption by bridging the innovation of decentralized finance with the traditional financial industry.
Venga believes that it can play a key role in accelerating the growth of Web3 by solving the most pressing challenges that are preventing ordinary people from entering the world of decentralized applications. Decentralized applications give people greater control over their financial destiny.
The company says one of the most difficult hurdles is related to user experience, with hundreds of DeFi apps featuring a high level of complexity due to the complexity of blockchain technology. The complex nature of many DeFi apps alienates new users, and Venga aims to bridge this knowledge gap by presenting Web3 in a more traditional and understandable UI.
Other issues Venga points out include the fragile technology that underpins Web3, which is often crippled by bugs and slow functionality. It also aims to address what he describes as the “education gap” by overcoming the lack of transparency, security, and compliance in crypto apps, and teaching people how to use crypto in an easier and more enjoyable way.
To that end, Venga has built a sort of “one-stop shop” for everything related to Web3, making it easier for everyday users to buy and sell cryptocurrencies and explore the world of DeFi. We hope this will help more people discover the benefits of owning cryptocurrencies and digital assets, ultimately bringing Web3 to the mainstream.
With a strong and ambitious vision shared by Venga’s new CEO, Stroev, he will oversee the company’s brand building, team expansion, and preparation for the launch of the first version of the Venga app, which is currently ready for approval on the App Store and Google Play. The company is currently working on solving some design issues to provide a perfect platform for users to start engaging in more rewarding DeFi activities such as cryptocurrency staking and digital asset exchange.
Stroev said he is very excited about the imminent launch of the Venga app, which is just the first step in what the company plans to do. Ultimately, he hopes Venga will become the “go-to crypto app,” first in Europe and later globally.
“We have the team, the technology, the creativity to make this happen, and our community is already starting to form,” Stroev said. “As these elements come together, Venga will provide DeFi and web3 services to a new wave of users who have full control of their finances and can explore the many possibilities that cryptocurrencies offer.”
The new CEO has the right background to help Venga achieve this, and has been instrumental in expanding Nebeus from a simple peer-to-peer crypto lending app to a more comprehensive service integrated with traditional finance. Nebeus allows users to earn rewards through staking and lending, or borrow crypto assets, by linking their personal EU IBAN or UK Sorting Code to the entire crypto ecosystem.
Stroev and his team’s experience will be instrumental in helping Venga expand its portfolio of cryptocurrency licenses. The company has already registered with the Central Bank of Spain and the Polish Ministry of Finance as a virtual asset service provider. The next step is to become fully licensed under the EU’s new cryptocurrency market regulations, which will allow Venga to expand its business across Europe.
Fortunately for Stroev, he has the support of an experienced and qualified team, including Venga’s Chief Information Officer (CIO) Michael Soschin (former CTO of Infintec), Compliance Officer Ana Caroline Oliveira (former analyst at Blockchain Solutions Ltd.), and Money Laundering Reporting Officer Barbara Ippolito (former analyst at Binance).
Disclaimer: This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.
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